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Technology Stocks : Research In Motion TSE RIM Nasdaq RIMM
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To: Mike Hilliard who wrote (297)8/24/1999 11:24:00 PM
From: New Economy  Read Replies (2) of 989
 
RE: Lead under-writer selling today. FED rate increase. "SELL" rating imminent:
With the FED raising rates, I am sure it will hinder Bell South's Decision to re-order the pagers. Correct me if I am wrong but was this not the fear in the last FMOC meeting for RIM (Bell South deal heavily dependant on interest rates). I noticed that Griffiths (one of the lead under-writer in the RIM IPO) was selling into the highs today and the technicals do not look to bright for RIM. Given todays sell off, it is obvious that RIM has become a day traders bonanza and it is most likely in weak hands right now. As soon as they sense any weakness every jumps ship. I am sure that we will see more "sell" recomendations in the near term. All this speculation is great for longs who bought in early and I want to send my congrats to all those who sold @ $45.00 or whatever the high was in US $. Nasdaq has another correction in the works as there are fears that the fed may increase rates in the fall. The interesting correlation with the Nasdaq and RIMM is that when there is a major correction in the Nasdaq like the one during the first week of August BANG RIM dropped down to $27.00 CDN. or $20.00 US on the NAS.
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